UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,637 Shares of PHINIA Inc. (NYSE:PHIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in PHINIA Inc. (NYSE:PHIN) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,429 shares of the company’s stock after selling 7,637 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PHINIA were worth $3,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PHIN. FORA Capital LLC grew its position in PHINIA by 92.8% during the third quarter. FORA Capital LLC now owns 21,402 shares of the company’s stock worth $985,000 after buying an additional 10,302 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of PHINIA by 115.3% in the 3rd quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock valued at $1,141,000 after acquiring an additional 13,277 shares in the last quarter. FMR LLC boosted its position in shares of PHINIA by 7.2% during the 3rd quarter. FMR LLC now owns 86,817 shares of the company’s stock valued at $3,996,000 after acquiring an additional 5,828 shares during the last quarter. Hancock Whitney Corp grew its holdings in shares of PHINIA by 122.0% during the third quarter. Hancock Whitney Corp now owns 56,088 shares of the company’s stock worth $2,582,000 after purchasing an additional 30,818 shares in the last quarter. Finally, Swedbank AB increased its position in shares of PHINIA by 161.2% in the third quarter. Swedbank AB now owns 66,752 shares of the company’s stock worth $3,073,000 after purchasing an additional 41,200 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Price Performance

PHIN stock opened at $52.67 on Friday. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 22.61 and a beta of 1.10. The firm’s 50-day moving average price is $49.99 and its two-hundred day moving average price is $46.24. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 12-month low of $27.71 and a 12-month high of $57.23.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. PHINIA’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, equities analysts predict that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Monday, November 25th. PHINIA’s payout ratio is 42.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PHIN. UBS Group initiated coverage on shares of PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target on the stock. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Wednesday, September 25th.

PHINIA Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.